Leading Israeli economists, bankers and members of the business community showed their strong support for the scholarship campaign of the Israeli Friends'Business Academic Club at a highly-successful fundraising event held in February. The event, which kicked off the Club's 2013 activities, raised 30 new scholarships.

Keynote speaker of the evening was Prof. Jacob Frenkel, newly appointed TAU Board of Governors Chairman, former Bank of Israel Governor and Israeli Prize winner, who spoke on the topic "Where Is World Economics Heading?" In Frenkel's opinion "Israel and the world will have to rethink the contract between governments and its citizens, as governments will not be able to meet citizens' expectations in the coming years."

Frenkel began his talk by remarking that his current position at TAU is in fact a coming around full circle – it was 45 years ago, at the start of his career, that he was appointed a member of the faculty at TAU's Eitan Berglas School of Economics.From left: Prof. Frenkel with Leon Recanati

Frenkel explained that he, together with the other Board members, share "a basic optimism. A belief that what we do at the University is important as it is tied to the future. Without faith in the future there is no reason to invest in human capital, which is the most profitable investment of all."

Also in attendance at the event were TAU President Joseph Klafter, Rector Aron Shai and Israeli Friends Chairman Amnon Dick.